JSE-listed Adapt IT Holdings Limited has announced the acquisition of the Conor Group in a transaction worth R80 million to strengthen the Adapt IT Telecoms solutions division.
Conor, founded in 2007, is a fast-growing and dynamic software business that employs 60 highly-skilled professionals and provides high performance telco and mobile financial service solutions, covering areas such as the core network applications, enterprise mobility, Big Data and analytics, and mobile payments to the telecommunications industry in 10 countries across Africa and South America.
“The two organisations will be able to fully exploit opportunities in the local and international telco market as Conor plans to play a meaningful role in Adapt IT’s telecommunications division’s strategy and growth by adding relevant world-class products to the existing solution offering,” said Conor CEO Chris Breytenbach
The acquisition of Conor improves Adapt IT’s revenue and geographic diversification as the Conor customer base creates cross-selling opportunities in local and foreign markets for the Adapt IT telecommunications software solutions.
“The Adapt IT telecommunications division solution offering is strengthened by the Conor acquisition with our customers benefiting from the technology synergies leveraged through this transaction, further enhancing opportunities to enable our customers to achieve more,” added Sbu Shabalala, CEO of Adapt IT.
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